July 14, 2017

NYC privatizing some public housing

IVN -New York City Housing Authority is in crisis. It needs $17 billion to update public housing that has fallen into disrepair.

New York City is home of the US’s largest public housing population, with 650,000 residents. Federal funding for NYCHA, and low-income housing across the country, has sharply declined in the past two decades.

To make up funding needs, NYCHA has turned to leasing government housing to private developers. Many NYCHA residents are worried that their beloved communities will be destroyed by privatization, and that private developers will ultimately push low-income residents out of their own communities, leaving them among the growing homeless.

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